Global Marine Grease Market Report 2022 to 2027: Industry Trends, Share, Size, Growth, Opportunities and Forecasts - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 29, 2022--
The “Marine Grease Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global marine grease market size reached US$ 359.6 Million in 2021. Looking forward, the publisher expects the market to reach US$ 464.1 Million by 2027, exhibiting a CAGR of 4.34% during 2021-2027.
- BP p.l.c.
- Chevron Corporation
- ENEOS Corporation
- Gulf Oil Marine Ltd
- Idemitsu Kosan Co. Ltd.
- Lucas Oil Products Inc
- Lukoil Marine Lubricants DMCC
- Penrite Oil
- Royal Dutch Shell plc
- TotalEnergies SE
- Warren Oil Company LLC
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Marine grease is a semi-solid lubricant with jelly-like consistency used for protecting marine vessels from corrosion, wear and tear and water washout by maintaining an oil film to prevent metal-to-metal contact between the cylinder liner and piston rings. It facilitates siding and rolling motion and is manufactured by blending mineral oils with asphaltic oils and soap or bio-based materials.
Some commonly used marine greases include engine, hydraulic, compressors, slideways, gear, heat transfer and turbine oils. They are hydrophobic in nature and exhibit various advantageous properties, such as high viscosity index, thermal resistance and minimal rusting and oxidation. They also act as sealants to prevent water from entering the vessels. As a result, they are widely used in bulker, tanker, container and passenger ships, along with service, special purpose and offshore vessels.
Significant growth in the shipping industry across the globe is one of the key factors creating a positive outlook for the market. Moreover, increasing international trade activities and the development of new waterways are providing a thrust to the market growth. Marine greases are widely used for maintaining the efficiency of the vessels.
They offer a wider temperature range, high mechanical and thermal stability, corrosion protection and longer lubrication intervals. In line with this, the increasing requirement for high engine performance and protection is also resulting in the widespread adoption of marine cylinder oils.
Additionally, various product innovations, such as the development of bio-based and environment-friendly marine lubricants, are acting as other growth-inducing factors. These novel variants are manufactured using renewable and non-bio accumulative materials with low sulfur levels.
Other factors, including rising expenditure capacities of the consumers, along with the implementation of favorable government policies promoting marine trade activities, are anticipated to drive the market toward growth.
Key Market Segmentation:
The publisher provides an analysis of the key trends in each sub-segment of the global marine grease market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on thicker type and end use.
Breakup by Thicker Type:
- Lithium Complex
Breakup by End Use:
- Bulk Carrier and Cargo Ship
- Passenger Ships
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Key Questions Answered in This Report:
- How has the global marine grease market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global marine grease market?
- What are the key regional markets?
- What is the breakup of the market based on the thicker type?
- What is the breakup of the market based on the end use?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global marine grease market and who are the key players?
- What is the degree of competition in the industry?
For more information about this report visit https://www.researchandmarkets.com/r/5bdjsg
View source version on businesswire.com:https://www.businesswire.com/news/home/20221229005086/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./ CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
INDUSTRY KEYWORD: TRANSPORT MARITIME
SOURCE: Research and Markets
Copyright Business Wire 2022.
PUB: 12/29/2022 05:20 AM/DISC: 12/29/2022 05:20 AM